Local fintech firm inks deal to expand access

Philippine-based fintech company First Digital Finance Corp. (FDFC) announced that it is partnering with Southeast Asia-based payments firm 2C2P (Thailand) Co. Ltd. to expand the access of their platform to more local users.

In a statement on Tuesday, FDFC said their partnership with the Thai company will be particularly beneficial to FDFC’s “buy now pay later” app it calls “BillEase.”

“With this strategic partnership, 2C2P’s merchants can now activate BillEase’s card-free installment payment option with a simple integration without requiring customers to sign up for a credit or debit card,” FDFC said.

The company said its app is a flexible payment method that allows consumers to pay for products in installments with zero interest.

The company added the partnership will allow customers to apply for credit at the checkout page of 2C2P’s merchants. They can also download the app for instant approval and split their payments over three, six, nine or 12 months with interest rates ranging from 0 percent to 3.49 percent.

The FDFC also said the collaboration will allow BillEase to tap on 2C2P’s extensive alternative payment network reach of over 400,000 locations in the region, and utilize a diverse offering of over 250 payment options across both online and offline channels.

“Shoppers increasingly prefer flexibility when it comes to payments, and they reward merchants who provide this solution which adds to customers’ loyalty and lifetime value,” FDFC Co-Founder and CEO Georg Steiger said.

Steiger said their partnership with 2C2P is expected to serve their existing customers and reach new customers, particularly Gen Z and Millennials.

Early this year, FDFC received a new license from the Bangko Sentral ng Pilipinas (BSP) in line with the central bank’s Circular 1049, Series of 2019 on the rules and regulations on the registration of Operators of Payment Systems.

As a payments and financing platform, BillEase absorbs all fraud and credit risks and pays on behalf of the customers upfront, assuring guaranteed payments for all merchants.